Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
GBP/AUD reversed from combined support zone
2019-11-11 • Updated
GBP/AUD reversed from combined support zone
Next buy target - 1.7650
GBP/AUD continues to rise after the earlier upward reversal from the combined support zone lying between the support level 1.7200 (former strong resistance level from January), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from the middle of April. The upward reversal from this support zone stopped the earlier minor impulse wave (iii).GBP/AUD is expected to rise toward the next buy target at the resistance level 1.7650 (which reversed the previous primary ABC correction ② at the start of May, as can be seen below).
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GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...